HKONY West 37 LLC obtained financing of $7M from The Berkshire Bank

HKONY West 37 LLC as borrower signed a loan agreement with lender The Berkshire Bank valued at $6.6 million for 1 parcel, including the tax class miscellaneous office building (O9) at 11 West 37 Street in Garment District. The deal closed on July 18, 2019 and was recorded on August 01, 2019.
The property contains a total of 51,613 square feet of built space. The property has 23,554 square feet of available development rights.
The average loan per buildable square foot is $127.
The last time the property sold was January 30, 2014, for $7,750,000.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel.There has been one new building permit application totaling 24,631 square feet. Those plans include a total of 68 residential or hotel units. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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